---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-037228"
form_type: "8-K"
ticker: "FNWB"
cik: "0001556727"
company_name: "First Northwest Bancorp"
filed_at: "2024-12-11T23:59:59+00:00"
generated_at: "2026-05-29T04:42:45.464948+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# First Northwest Bancorp enters new employment agreement with CEO; base salary $515,000

## Summary
- One-year term starting Dec 7, 2024, with employer option to extend annually.
- CEO eligible for annual incentive bonus and equity awards under company plans.
- Severance: 1x base salary + 90 days COBRA for without-cause or good-reason termination.
- Change-in-control severance: 1.5x base salary + 90 days COBRA if terminated within 12 months post-CIC.
- Restrictive covenants include one-year non-compete in counties where employer operates.

## SEC filing metadata
- accession: 0001437749-24-037228
- form_type: 8-K
- ticker: FNWB
- cik: 0001556727
- company_name: First Northwest Bancorp
- filed_at: 2024-12-11T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1556727/000143774924037228/0001437749-24-037228-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1556727/000143774924037228/fnwb20241209_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-037228
- JSON: https://secwatch.observer/filing/0001437749-24-037228.json
- Plain text: https://secwatch.observer/filing/0001437749-24-037228.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.